Comm'th. ex rel. Claghorn v. Cullen
Supreme Court of Pennsylvania
Error to the Common Pleas of Philadelphia county. An information in the nature of a quo warranto was filed in the court below on the 19th of May, 1849, by John W. Claghorn and others, to show cause why Peter Cullen and others claimed to enjoy the franchises, &c. of The Equitable Life Insurance Company of Philadelphia.
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Error to the Common Pleas of Philadelphia county. An information in the nature of a quo warranto was filed in the court below on the 19th of May, 1849, by John W. Claghorn and others, to show cause why Peter Cullen and others claimed to enjoy the franchises, &c. of The Equitable Life Insurance Company of Philadelphia. It set forth that a charter was granted in May, 1848, which provided that the corporate powers of the company should be exercised by a board of trustees to consist of six persons, and a secretary to be elected on the second Monday in December, anually, or within forty days…
1Opinion of the Court
The opinion of the court was delivered by
Bell, J.
So far as we may judge from the pleadings and accompanying exhibits, under which the cause is brought before us, it presents the history of a struggle between rival parties, for the government of a private corporation, pending which, each has sought the aid of special legislation, apparently too hastily accorded to both. Such a course is usually detrimental to the best interests of companies entrusted with the management of capital; and it is to be feared the present instance cannot be esteemed an exception. Both the supplemental acts, here in…
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